Klaveness Combination Carriers – Contemplated private placement and listing on the Oslo Stock Exchange

 

Klaveness Combination Carriers – Contemplated private placement and listing on the Oslo Stock Exchange

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, HONG KONG, SOUTH AFRICA OR ANY JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE LOCAL SECURITIES LAWS OR REGULATIONS OF SUCH JURISDICTION.

Oslo, 2 May 2019: With reference to the announcement of 11 March 2019 regarding engagement of advisers, Klaveness Combination Carriers ASA (“KCC” or the “Company”), the leading owner and operator of modern combination carriers, today announces that the Company intends to launch a private placement to fund additional investments in combination carriers (the “Private Placement”) and list its shares on the Oslo Stock Exchange / Oslo Axess upon completion of the Private Placement (the “Listing”).

Through the Private Placement, the Company intends to raise approx. NOK 200 – 400 million in new equity by the issuance of new shares (the “New Shares”). In addition, the Joint Bookrunners may elect to over-allot a number of additional new shares (the “Additional Shares”) equaling up to 15% of the New Shares allocated in the Private Placement. The net proceeds from the Private Placement will be used to finance the equity portion of up to two options for the construction of a seventh and eighth CLEANBU newbuild with Jiangsu New Yangzi Shipbuilding Co., Ltd in China with delivery in Q1 2021…

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